What does it mean to have a general partnership?

A general partnership is typically an agreement between two or more people and it usually means that any one of the partners, whether it be two or three, can bind any of the other ones on this particular venture. In other words, you might set up a general partnership to build a house, or to build a property, to run a business, something like that. Generally, all the partners are liable for any of the other actions of the partners as long as they’re done during the course of that business. This is why if you decide to do this you need to consult with an attorney. There are safeguards that can be put in place.